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Corona crisis: Federal government has so far supported the economy with around 130 billion euros

2021-12-30T11:58:03.205Z


The pandemic has hit some industries hard for almost two years. The federal government has now spent around 130 billion euros on aid and loans - the amount is likely to grow.


Enlarge image

Munich pedestrian zone during shutdown in December 2020

Photo: Sachelle Babbar / ZUMA Wire / imago images

In the corona pandemic, the federal government has so far supported the German economy with around 130 billion euros.

Specifically, aid of around 60 billion euros was disbursed and loans of almost 55 billion euros were granted, according to a list by the Ministry of Economic Affairs for the state chancelleries of the federal states.

There were also recapitalizations and guarantees.

The paper goes on to say that the digital application process and the good cooperation between the federal and state governments have enabled four million applications for grants to be approved since the beginning of the pandemic.

As part of the special program of the state-owned development bank KfW, around 156,000 commitments were made.

"In close coordination with the federal states, we are doing everything we can to ensure that the aid reaches the companies quickly," said State Secretary Sven Giegold (Greens).

In view of the current pandemic situation, companies and employees would continue to be supported so that as many companies as possible survive the crisis and the current difficult situation.

The ministry indicated that the business programs continued.

The bridging aid and the restart aid as well as the easier access to short-time work allowance have just been extended by three months to March 31 of next year.

The KfW special program and the KfW quick loan continued until April 30 with increased credit limits.

In addition, the KfW investment loan for municipal and social enterprises can be applied for by June 30, 2022.

fdi / dpa

Source: spiegel

All business articles on 2021-12-30

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